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Note 5
12 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Note 5 - Related Party Transactions

Note 5 – Related Party Transactions

 

Consulting services from President, Chief Executive Officer, Secretary and Treasurer and Chief Financial Officer

 

Consulting services provided by the President, Chief Executive Officer, Secretary and Treasurer and Chief Financial Officer for the years ended September 30, 2016 and 2015 were as follows:

 

 

   

For the

Year

Ended

September 30, 2016

 

For the

Year

Ended

September 30, 2015

 
             
President, Chief Executive Officer $ 6,000   $ 6,000  
Chief Financial Officer, Secretary and Treasurer   6,000     6,000  
  $ 12,000 * $ 12,000 *

 

* - During the year ended September 30, 2016, $6,900 (September 30, 2015: $8,100) of these related party consulting services was recognized in cost of revenues and $5,100 (September 30, 2015: $3,900) in officers’ compensation within operating expenses.

 

Accounts Payable – Related Parties

 

From time to time, the President, CEO and significant stockholder of the Company advances funds to the Company for working capital purpose. Those advances are unsecured, non-interest bearing and due on demand. As of September 30, 2016 and 2015, the advance balance was $405 and $Nil respectively.

 

As of September 30, 2016 and 2015 the Company owed its directors and officers $27,405 and $15,000 respectively. These amounts represent unpaid consulting fees and cash advances as of the end of the reporting period.